Sensex, Nifty close high over gains in global equities

Nifty kicks off March series above 10,400 global cues positive

Market breadth indicating the overall health of the market turned positive. Image source Pixabay

Asian shares rebounded today as comments from a Federal Reserve official eased worries that the U.S. central bank might raise rates more aggressively this year.

The Sensex is up 322.65 points or 0.95% at 34142.15, and the Nifty is up 108.30 points or 1.04% at 10491.00.

The rupee also rebounded from Thursday's 3-month lows, rising to 64.84 against the USA dollar.

"The US Fed's hawkish stance on future rate hike on account of improving economic activity and expiry led volatility in domestic market impacted the sentiment". Bond yields declined from four-year highs amid fears of higher inflation and interest rates.

The Sensex after resuming lower at 33,817.09 fell further to hit a low of 33,691.42 intra-day on foreign fund outflows.

The index had shed 25.36 points in the previous session.

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Market breadth, indicating the overall health of the market, turned positive.

Among Sensex components, Dr Reddy's topped the losers list by falling 2.19 per cent, followed by ONGC 2.05 per cent. Among the Nifty50 stocks, Sun Pharma, Tata Steel, Tech Mahindra, Bharti Airtel, Aurobindo Pharma, Lupin and Cipla rose between 1-2 per cent. M&M, TCS, Asian Paints and GAIL India were among the laggards.

Financials also gained, with HDFC Bank (1.12%) and ICICI Bank (1.46%) among the biggest contributors to the rise.

On February 14, PNB disclosed that it detected fraudulent transactions with financial implication of about Rs 11,346 crore.

Mumbai: The benchmark Sensex of the BSE surged over 300 points on Friday as positive cues from the Asian markets, along with healthy buying in nearly all the sectors - led by metals, banking and healthcare stocks - kept investors' sentiments buoyed.

All sectoral indexes closed higher on the BSE. In the Asian region, Japan's Nikkei was up 0.72 per cent, while Hong Kng's Hang Seng rose 0.97 per cent. Shanghai Composite Index too rose 0.63 per cent.European shares too were in fine shape in their early session.

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